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Mortgage Market Review

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At the FSA public meeting on 23rd June Hector Sants, the Chief Executive, announced the delay of the Mortgage Market Review (‘MMR’):

“… the principal issue that MMR is looking to address is the generally agreed failing in the market that some consumers have entered into mortgages which they have little or no chance of repaying. We address this issue, however, in a way which does not damage the economy or the ability of the consumers who can pay having the required access to finance. We are conscious that achieving the right policy package will be a difficult judgement. We will thus ensure our proposed package of measures is backed comprehensive analysis. We will publish this material and our proposed package of measures in the autumn.”

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